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Take a look at the world’s must successful businesspeople and you’ll see that although they are very often in the limelight and regarded as the sole person responsible for the success of their organization(s), the truth is, more often than not, they have a dedicated team around them.
Take British entrepreneur Lord Alan Sugar as an example. Amassing a fortune of over £770m ($1.1 billion), he has regularly praised the services of colleague and friend Nick Hewer, a PR specialist who served as part of the Amstrad (Alan Michael Sugar Trading) management group for over two decades.
For anyone who owns a small business, however, as much as it’s understood that hiring the right people can do nothing but help push your business forward, when finances are minimal, it can be difficult to know what do for the best.
However, expanding your team as a small business owner is a real possibility and can be done so by abiding by these three points.
Understand what it is that you need
For many small business owners, when they think that they need certain tasks carrying out, they instantly think that they need to hire someone on a full-time contract to take care of that side of the business on a continual basis.
When the need is looked at in greater detail, however, it’s often realised that there isn’t actually a full time position available and a part-time, temporary role or even hiring someone on a freelance, contract basis would actually work out to be the better option.
Have a set budget
As great as it would be to work with a team of experts who didn’t want a fee, this doesn’t happen in business and you need to have at least some budget set aside when you’re thinking of hiring someone or a small team.
This budget doesn’t have to be as large as you may think, however, especially if you’re going down the route of hiring freelancers to carry out specific projects as and when they’re needed.
For instance, if you’re hiring a full time employee, you not only have their salary to pay, but all of the associated costs, from tax through to sick pay.
Take on a freelancer and OK, you’re likely to have to pay more per hour than an employee, but you only have to pay the actual wage, with no additional costs required.
Be an organized manager
While having a team of people around you to drive your small business forward will help tremendously, a team can only work to the requirements given to them and it’s for this reason why you need to ensure that you’re an organized manager.
There’s no doubt that you’ll be able to leave the implementation of processes, for instance, to the people that you’re hiring, but you need to ensure that you provide expectations so that they know what they’re working towards and be able to ensure that you can monitor results – hiring a freelance SEO Consultant to “increase rankings in Google” might seem like enough information for them, but you need to be working closely with them to ensure that you’re targeting the most appropriate keywords and have a benchmark to be able to monitor progress against.
As tempting as it can be to carry out every business aspect as a small business owner, the truth is you need to rely on others in some instances and although it might seem costly to hire even one person, with the right knowledge, you can be sure that you put your available funds to the best use to help progres your small business.
This post was originally featured on June 7, 2011.